We are glad that our offer has been accepted by the vast majority of Krynicki Recykling's existing shareholders. The inclusion of Poland's largest glass recycler in the Sibelco group is an important step in the development of our activities in this segment in Central and Eastern Europe
CEO of Sibelco.
Sibelco announced a tender offer for 100% of shares in Krynicki Recykling on 23 March this year, offering PLN 23.00 per each share of the Polish company. Subscriptions to sell shares in the tender offer were accepted from 12 April to 25 May 2022. Investors holding a total of 16,289,943 shares in Krynicki Recykling, constituting 93.80% of the share capital and the total number of votes at the company's general meeting responded to the tender offer. The total value of the share purchase transaction concluded today amounted to PLN 374.7 million. It will be settled on 31 May 2022.
Santander Biuro Maklerskie was the intermediary broker in the tender offer. Clifford Chance was the legal advisor to the Offeror, while Lazard and Santander acted as financial advisors to Sibelco on this transaction.